Taking chances in the world of Crypto

[bitcoinforchumps]

So in this crazy wild west world of crypto in order to earn some extra Bitcoin you gotta take risks. Calculated risks of course, not those silly "Double Your Bitcoin in 24 Hours" websites....

Well in saying that, I did actually stick 0.01BTC into one of those sites and sure enough I got 0.02BTC back within about a day.

Would I do it again? Probably not! And if I did I definitely wouldn't be sticking half a bitcoin in there or anything!!

Anyway, back to calculated risks. As you may or may not be aware, there are many websites that you can invest Bitcoin into and they will pay out a daily interest percentage on your money. Yes, many of them are likely to be scams. This is where the 'calculated risk' comes into play.

Bitconnect, one of my favourite sites, has been paying out 1% daily interest for around a year now. I only got in 3 months ago but have basically now achieved my ROI.

There have been other sites that have come and gone and taken peoples money. This is not good and I feel sorry for the people that invested.

I chose to invest in RegalCoin also and as of today I have achived 100% Return On Investment (ROI). It took 70 days to get my $500 investment back and I must say I was quite nervous about it. I decided to invest because this was the second site to launch after Bitconnect so I knew many people would invest too. That means there was a fair chance the site would remain running for several months atleast before anything happened.

In this case I was correct, the site is still running so every day now that it stays up is pure profit on my $500 investment.

So the point is, if you want to earn extra Bitcoin you have several ways to do it.

One is to invest in risky schemes but this is not for the faint hearted and not for people who simply cannot afford to lose their hard earned money.

Another option is to trade alt coins. When alt coins are all green (ie going up) it's quite easy. When things turn though it's difficult and if you get stuck holding alts when BTC suddenly starts to surge then there's a fair chance you will lose.

So, ultimately nothing is easy and everything requires some risk. Even simply buying BTC and holding it is risky. What if BTC halves tomorrow?

The moral of the story...I dont know!

Comments

[mawit07]

I find is so fascinating that most of these lending coins are truly profitable. If any should fail it will be likely be a bad day in the crypto world. Go all in or nothing. I have to change my mindset on crypto investing as I am having challenges earning much. Thanks.

[bitcoinforchumps]

my advice is as follows:

1. Stick a small amount in Bitconnect ie $200 or $300 and do it asap so you begin getting your returns. If you had of put in say $500 instead of $100 when you started in Bitconnect you would already have most of that money back.
2. Follow "Lords of Crypto" and "cryptonary" on Instagram and watch their 'buy' signals. It's very easy to make 10% profit within a couple of days most of the time.
3. Read the forums and see what coins have all the buzz, ie ADA/Cardano is currently big on hype and has gone from 250 sats to 2500 sats.
4. When BTC is surging, alts will always drop, sit on the alts for a few days and then buy in when they have dropped substantially. Then convert back to BTC when alts are up and btc is down. Happens every week or so.
5. invest a small amount in USI Tech. not massive returns but very solid and steady and more reputable than Bitconnect/RegalCoin/Hextracoin etc etc

[cryptomyballs]

So dont buy into RegalCoin then?

[bitcoinforchumps]

yep, go for Bitconnect or HextraCoin for higher returns but higher risk